UK housebuilder Taylor Wimpey is in the final stages of discussions to restructure its £1.55bn debt pile, ahead of deadlines next month for debt repayments. The company is expected to strike a deal with its banking syndicate and holders of its private placement bonds in time to seek the approval of other bondholders, who hold about £450m of its debt, by March 10 – in time to get round a planned testing of debt covenants, which has been deferred to March 31.

This entry was posted by Gwen Robinson on Thursday, February 19th, 2009 at 5:03 and is filed under Capital markets. Tagged with Taylor Wimpey. Edit this entry.